FirmAtlas
Company handbook · TJX · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
TJX · CIK 109198 · LATEST FILING: 10-Q AUG '26 · FILED AUG 28, 2026
The TJX Companies, Inc.
$147.33
+2.75 (+1.90%)
Close, Oct 16, 2026 · 52-week $123–170
TJX runs off-price stores that sell other brands' clothing, shoes, accessories and home goods below full-price store prices. Its chains include TJ Maxx, Marshalls and HomeGoods in the U.S., Winners and HomeSense in Canada, and TK Maxx in Europe and Australia.
Business
- SegmentsMarmaxx 61% · Home Goods 17% · TJX Europe 13% · TJX Canada 9% (FY25)
- CustomersConsumers; its own stores and websites in the U.S., Canada, Europe and Australia
- Cash useFY24–FY25: buybacks $5.0B · capex $3.9B · dividends $3.5B
Reinvested 30% of operating cash flow · returned 94% of free cash flow
Last fiscal year
The TJX Companies, Inc. reported revenue of $60.4B for the year ended Jan 31, 2026 (FY25), up 7.1% from FY24. Net income was $5.5B, operating cash flow $6.9B and free cash flow $4.9B. Source: 10-K filed Mar 31, 2026.
Market cap
$163.1B
P/E
26.9
EV/EBITDA
19.0x
P/B
15.3
Div yield
1.23%
ROIC
84.7%
Revenue 1Y
7.1%/yr
EPS 1Y
14.3%/yr
Shares 1Y
−1%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOErnie Herrman
HQFramingham, MA
AuditorPricewaterhouseCoopers LLP
Employees377,000
Year endsFebruary
Revenue by segment · FY25
Marmaxx61%
Home Goods17%
TJX Europe13%
TJX Canada9%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
14.8%
18.0%
18.0%
3.4%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$12.4B deployed
Capex
$3.9B
31.2%
Dividends
$3.5B
28.1%
Buybacks
$5.0B
40.6%
Operating cash flow over the period: $13.0B. Total debt changed by +$3M.
More cash than debt at the end of FY25.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY25 = year ended Jan 31, 2026 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
Per-share figures are split-adjusted (2-for-1 split after FY16).
TTM = the last four quarters, to Aug '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
56,360
60,372+7.1%
62,363
YoY
+7.1%
Gross profit
17,248
18,693+8.4%
19,955
Gross margin
30.6%
31.0%+0.4 pp
—
Operating income
6,302
7,178+13.9%
—
Operating margin
11.2%
11.9%+0.7 pp
—
EBITDA
7,406
8,425+13.8%
—
EBITDA margin
13.1%
14.0%+0.8 pp
—
Interest expense
78
79+1.3%
—
Interest coverage
94.95x
106.65x+11.70x
—
Net income
4,864
5,494+13.0%
6,067
YoY
+13.0%
Net margin
8.6%
9.1%+0.5 pp
—
EPS (diluted, $)
4.26
4.87+14.3%
5.43
YoY
+14.3%
Balance sheet
Total assets
31,749
35,767+12.7%
37,115
Cash & short-term investments
5,335
6,230+16.8%
—
Accounts receivable
549
602+9.7%
—
Inventory
6,421
7,297+13.6%
—
Net PP&E
7,346
8,220+11.9%
—
Other assets
12,098
13,418+10.9%
—
Total liabilities
23,356
25,577+9.5%
26,464
Accounts payable
4,257
4,575+7.5%
—
Total debt
2,866
2,869+0.1%
2,871
Other liabilities
16,233
18,133+11.7%
—
Shareholders’ equity
8,393
10,190+21.4%
10,651
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
6,116
6,874+12.4%
8,034
Net income
4,864
5,494+13.0%
—
Depreciation & amortization
1,104
1,247+13.0%
—
Stock-based compensation
183
214+16.9%
—
Working capital & other
(35)
(81)n/m
—
Cash from investing
(2,477)
(1,981)n/m
—
Capex
(1,918)
(1,957)n/m
—
Investments bought
(35)
(38)n/m
—
Other investing
(524)
14n/m
—
Cash from financing
(3,838)
(4,118)n/m
—
Debt repaid
0
0n/m
—
Dividends
(1,648)
(1,842)n/m
—
Buybacks
(2,513)
(2,522)n/m
—
Shares issued
366
311−15.0%
—
Other financing
(43)
(65)n/m
—
Net change in cash
(265)
895n/m
—
Free cash flow (OCF − capex)
4,198
4,917+17.1%
5,876
Where the cash went
Operating cash flow
6,116
6,874+12.4%
8,034
Reinvested in the business
1,918
1,957+2.0%
—
% of operating cash flow
31.4%
28.5%
Capex
1,918
1,957+2.0%
2,158
Free cash flow
4,198
4,917+17.1%
5,876
YoY
+17.1%
Returned to shareholders
4,161
4,364+4.9%
—
% of free cash flow
99.1%
88.8%
Dividends
1,648
1,842+11.8%
—
Buybacks
2,513
2,522+0.4%
—
Change in total debt
—
3
—
Cash left over
—
556
—
FCF conversion (FCF ÷ net income)
86.3%
89.5%+3.2 pp
—
Owner earnings
—
4,173
—
Owner earnings margin
—
6.9%
—
Buyback yield
1.8%
1.5%−0.3 pp
—
Returns & ratios
ROIC (all capital)
79.8%
84.7%+4.9 pp
—
ROIC (operating)
47.0%
50.0%+3.0 pp
—
Net debt / EBITDA
−0.33x
−0.40x−0.07x
—
Debt / equity
0.34x
0.28x−0.06x
—
Cash conversion cycle (days)
24
27+4 d
—
ROE
58.0%
53.9%−4.0 pp
—
ROA
15.3%
15.4%+0.0 pp
—
ROCE
30.4%
32.0%+1.7 pp
—
NOPAT
4,728
5,403+14.3%
—
Invested capital (operating)
10,059
11,544+14.8%
—
Invested capital (all)
5,924
6,829+15.3%
—
Reinvestment rate
—
27.5%
—
Debtor days
4
4+0 d
—
Inventory days
60
64+4 d
—
Days payable
40
40+0 d
—
Income
Nov '25
Jan '26
May '26
Aug '26
Revenue
15,117
17,743
14,323
15,180
vs year-ago quarter
Gross profit
4,927
5,476
4,480
5,072
Gross margin
32.6%
30.9%
31.3%
33.4%
Net income
1,442
1,773
1,332
1,520
vs year-ago quarter
Net margin
9.5%
10.0%
9.3%
10.0%
EPS (diluted, $)
1.28
1.60
1.19
1.36
vs year-ago quarter
Balance sheet
Nov '25
Jan '26
May '26
Aug '26
Total assets
35,188
35,767
36,158
37,115
Cash & equivalents
4,640
6,230
5,580
6,004
Total debt
2,869
2,869
2,870
2,871
Shareholders’ equity
9,359
10,190
10,403
10,651
Cash flow
Nov '25
Jan '26
May '26
Aug '26
Operating cash flow
1,532
3,157
1,119
2,226
Capex
531
468
662
497
Free cash flow
1,001
2,689
457
1,729
vs year-ago quarter